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Samsung SDI profit misses consensus by 24.6% in Q1

Samsung SDI Co. Ltd. said its normalized net income for the first quarter amounted to 709.20 South Korean won per share, compared with the S&P Capital IQ consensus estimate of 940.86 won per share.

EPS decreased 37.4% year over year from 1,133.43 won.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 48.74 billion won, compared with 49.17 billion won in the prior-year period.

The normalized profit margin declined to 1.9% from 5.9% in the year-earlier period.

Total revenue increased 122.9% on an annual basis to 1.866 trillion won from 837.10 billion won, and total operating expenses increased 115.8% on an annual basis to 1.859 trillion won from 861.37 billion won.

Reported net income decreased on an annual basis to 58.39 billion won, or 849.55 won per share, from 60.04 billion won, or 1,384.05 won per share.

As of May 15, US$1 was equivalent to 1,083.65 South Korean won.